CIMA, AICPA to Form New Association Representing Accounting Profession

Chartered Institute of Management Accountants (CIMA) and the American Institute of Certified Public Accountants (AICPA), come together to create a new association representing the magnitude of the accounting profession.

The new partnership will represent 600,000 current and next generation professionals. It will complement rather than replace the two constituent organizations. members of CIMA and AICPA members retain their existing member organization, but will gain additional adhesion of the new association.

The decision to create the Association was taken after the bodies of both organizations members voted to approve the motion on June 16, 89.7 percent of CIMA members and 86.5 percent of AICPA members voted in favor. The Association will launch in 2017.

President of CIMA Andrew Miskin said: "We live in a period of rapid change and increased competition In response, I am delighted that the members of CIMA and the AICPA have approved the proposal to create a new partnership so we can go. ahead of market trends and developments.

"We will build on the history and strengths of both CIMA and the AICPA, which will allow us to accelerate our strategy and expand CGMAs opportunities worldwide."

The formation of the Association represents a deepening of the joint venture CIMA and the AICPA have operated since 2011, which expanded management accounting in the United States, and has created a new global designation, Chartered Global Management Accountant (CGMA) .

The proposal aims to ensure that resources and global reach that comes from the integration of operations of two of the most influential bodies in the world accounting members also benefit from the additional relevance.

Students also have access to other learning tools, as well as benefit from greater recognition of the qualification they are studying towards.
AICPA President and CEO Barry Melancon said: "In developing this proposal, we have carefully arranged commitments PCA and CGMA, CIMA and the AICPA and public and management accounting practice we are excited to develop a way forward that reflects. the way the world is changing.

At the same time, we will be extremely careful to protect our collective history and solid reputation both organizations have built over the last century. This is to build on what is great -. And to cope with a world in exciting evolution "